Federal Reserve
The Federal Reserve decided today, Feb. 1, to raise the interest rate 25 basis points (bps) to slow the pace of monetary-policy tightening.
The interest rate was raised to a range of 4.5% to 4.75%, the central bank said.
This is the eighth interest-rate hike in a row, but it is lower than December’s 50-bps increase.
The Federal Open Market Committee (FOMC) expects the continued interest-rate hike to help return inflation to its target of nearly 2%.
The committee added that it will take into account the cumulative tightening of monetary policy and the lags with which the monetary policy affects economic activity and inflation.
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